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PROFESSIONAL CORPORATION INFORMATION

Any person can make application to the Corporate Registry department of Information Services Corporation (ISC) to have an individual professional corporation (PC) registered. To use a PC for trades in real estate, the registrant must also ensure the PC name satisfies the requirements of The Real Estate ActRegulations and Commission Bylaws.

Prior to commencing a professional practice through a PC a registrant must ensure the name of the corporation is in accordance with the bylaws and contains the words “professional corporation” or the abbreviation “prof. corp.” or “p.c. and the words “real estate” or “realty” in addition, to the name as it appears on the real estate agent’s Certificate of Registration issued under The Real Estate Act.

EXAMPLE:
Certificate of Registration for Johnathon (John) Doe
Sample PC Names:
Johnathon Doe Real Estate P.C. Inc.
John Doe Realty Professional Corporation
John Doe Realty Prof. Corp.

In order to incorporate a PC, the applicant or agent acting on their behalf will have to follow the procedures of the Corporate Registry branch of Information Services Corporation (ISC):

1.	Contact ISC to have a name search conducted and reservation made. Corporate Registry 1301 - 1st Avenue Regina, SK Phone: 306-787-2962 Fax: 306-787-8999 Email: corporateregistry@isc.ca
2.	ISC will respond providing a consent form to be completed by the Registrar for the Commission. Forward the name reservation and approval form to the Commission for the Registrar to complete.
3.	The requested name will be reviewed and if approved, the form will be completed and returned to the applicant.
4.	The applicant may then submit the required documentation to ISC for registration.
5.	ISC will register the PC and issue a Certificate of Incorporation.
6.	Apply to the Commission for a Permit for a Professional Corporations. Forms are available from our website.
7.	Once the application and fees have been received and processed, you will be issued an annual permit.

PC PERMIT INFORMATION

The Professional Corporations Act, in section 8, sets out how the Commission is able to register and issue permits to individuals who have PCs. Permits are valid January 1 to December 31 and must be renewed annually. Once a PC has been registered with ISC, that registrant must apply for a PC permit from the Saskatchewan Real Estate Commission (Commission).

The Commission is charged with ensuring all permits issued to PCs are in good standing pursuant to The Business Corporations Act; meets the requirements of The Professional Corporations Act; and meets the requirements of Commission Bylaws. Every PC must file an annual return with ISC to remain in good standing. Every PC permit registered with the Commission must annually provide a corporate/entity profile report to show the PC is in good standing in order to be eligible to renew their PC permits.

Having a permit issued for a PC does not register you to trade in real estate and does not allow you to offer real estate services to the public. You must be issued a current and valid Certificate of Registration by the Saskatchewan Real Estate Commission to trade in real estate with a registered brokerage.

PC PERMIT APPLICATION

The initial application form requires you to list the shareholders of the Corporation who are eligible to vote; the non-voting shareholders and the directors of the Corporation. A registrant applying for a PC permit with the Saskatchewan Real Estate Commission must own 51% or more of the common shares of the PC. In addition, please refer to Clause 6(1) of The Professional Corporations Act for additional restrictions concerning the registration of a PC with the Corporate Registry.
Your application must include:
a. A completed application for issuance of an annual permit by a professional corporation;
b. A copy of the Certificate of Incorporation and Articles of Incorporation;
c. A copy of the Corporate/Entity Profile report; and
d. The appropriate permit fees.

PERMIT FEES

The initial permit application fee is $500.00. The fee must accompany your application. Annual renewals for the permit is $200.00. Payment is acceptable by either VISA or MasterCard credit cards or bank draft. Neither cash nor personal cheques will be accepted by the Commission for any transactions.

ADVERTISING AS A PROFESSIONAL CORPORATION

A registrant who has formed a PC is not required to use his or her PC identity when advertising trades in real estate.

Section 55(2) of The Real Estate Act (the Act) requires that all advertisements relating to a trade in real estate must indicate the name of the brokerage for which the broker, branch manager, associate broker or salesperson is authorized to act. A PC is not a brokerage registered pursuant to the Act and so any advertisement that contains the name of a PC must also contain the name of the brokerage on whose behalf the registrant is authorized to carry business.

A PC name included in an advertisement must appear in the prescribed format: Name, Industry Identifier, and Corporate Identifier. Your PC identity can be used on any document generated in the course of a trade in real estate as long as it is clear on the document that the PC is acting as a representative of a brokerage, not as a the brokerage itself. Clear identification of the role each entity plays in the transaction includes ensuring that the name of the brokerage appears in the space designated for the buyer's brokerage or seller's brokerage.

RENEWAL OF PERMITS

About mid-October of each year, the Commission sends out reminders to all permit holders with information on the renewal process.

Once the regular renewal time has passed, a $100 late filing fee will be attached to the renewal. No renewal options are available, late or otherwise, after the end of January. If any individual who failed to renew during the allotted time and wishes to have a PC permit, they must make a new application.

REVOCATION OF PERMIT

Commission bylaws pursuant to The Professional Corporations Act, delegates the registrar of the Commission, the power to revoke a permit issued to a PC. The registrar may revoke a permit issued to a PC where the PC fails to comply with a term or condition set out in the permit. A permit will be revoked if any registrant has their Certificate of Registration suspended or revoked.

ADDITIONAL INFORMATION

A registrant’s PC cannot be registered as a brokerage pursuant to The Real Estate Act. Section 8(2) of The Professional Corporations Act states: “A professional corporation shall not be registered pursuant to any provision of a designated Act.” Pursuant to s. 3 of The Professional Corporation Regulations, The Real Estate Act is a designated Act.

A registrant with a PC must immediately notify the Registrar of the Commission in writing of any proposed change of name or of any proposed changes to the corporate structure, ownership or directors.

Please keep in mind when making application for a new Permit for a Professional Corporation, regardless of the date of issue, shall expire on December 31st of the issuing year as per section 8 of The Professional Corporations Act.

Property of Saskatchewan Real Estate Commission